Saudi Aramco CEO: Co.’s Crude Oil Production Under 10M b/d

The chief executive of Saudi Arabian Oil Co. (SOI.YY) said Monday that the state-owned company is producing fewer than 10 million barrels a day of crude oil.

“We are not above 10 million barrels a day,” Abdulla Jum’ah said at a conference hosted by the Baker Policy Institute in Houston.

He said that there were plans for Saudi Aramco to increase capacity to 12 million barrels a day “with scenarios to bolster production to even 15 million barrels a day,” but Jum’ah didn’t provide any timeline for these possible increases.
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